- Dogecoin, Shiba Inu, and Pepe are dominating meme coin markets with price gains and record-breaking Open Interest.
- Bullish signals suggest the rally may extend further if momentum holds.
The meme coin sector is lighting up the crypto charts as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) post major gains alongside surging Open Interest (OI), signaling bullish intent across the board. With Bitcoin holding firm above $120,000, the total meme coin market cap now exceeds $85 billion, ushering in talk of a possible altseason.
Dogecoin Rally Continues with Bulls Targeting Higher Highs
Dogecoin leads the meme coin pack, jumping over 12% in a continued four-day bullish streak. DOGE has recovered 44% so far in July, decisively crossing the 200-day EMA at $0.2033. Technical indicators flash strong bullish signals: the MACD shows increased strength with green histogram bars, while the RSI has surged to 79, entering overbought territory.
Open Interest in DOGE jumped 27% to $3.92 billion — the highest since February — as volume climbed to $12.97 billion. With short positions wiped out by nearly $31.5 million, bulls are setting their sights on the $0.2597 resistance, and possibly $0.2867 next.
Shiba Inu Builds Strength Above 200-Day EMA
Shiba Inu has followed suit with an 8% gain, breaking above its 200-day EMA at $0.00001452. SHIB has now gained 18% this week alone. The RSI hovers at 78, and MACD trends reinforce the bullish picture. With SHIB eyeing the $0.00001565 resistance, a daily close above could push the price toward $0.00001734.
Backing this optimism is a 20% spike in SHIB’s OI, now at a six-month high of $295.47 million. The rising funding rate signals sustained buyer interest.
Pepe Hits Record OI as Golden Cross Ignites Rally
Pepe’s 5% price climb on Friday extended its impressive 45% gain for July. With a breakout above the $0.00001362 level, bulls are now targeting $0.00001632. A Golden Cross between the 50-day and 200-day EMAs adds a technical boost, with the 100-day EMA soon to follow.
PEPE’s Open Interest surged to a record $787.51 million, reflecting growing trader appetite. The RSI sits at 72 and MACD supports an ongoing bullish trend.
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